Dubai emerging as centre for commercial dispute resolution

With Dubai emerging as a global centre of excellence for commercial dispute resolution and arbitration, the International Financial Centre Courts here plan to deliver time-bound judgements in such cases, a top analyst has said.
"Dubai is now recognised as a global centre of excellence for commercial dispute resolution and arbitration," Tim Taylor, adviser for many high-profile clients including sovereign states and heads of state said.
These enhancements will further promote the region to international business and underline the message that the Dubai International Financial Centre (DIFC) Courts has one of the world's leading commercial courts, he said.
DIFC courts, an independent English language common law judiciary system has introduced a new Practise Direction that will facilitate enforcement of international judgements and increase the speed of settling commercial disputes.

DIFC's common law system aims at offering swift, independent justice to settle local and international commercial or civil disputes.
The new direction is the first of its kind, globally and will greatly enhance the attractiveness of the DIFC and Dubai as a trusted hub for global business.

The Practise Direction will mean that in cases of commercial disputes, a DIFC Courts judgement could result in the judgement creditor obtaining an arbitral award which could be enforced in over 150 countries providing greater enforcement internationally, he said.
This innovation will give participants in international commerce confidence that a transaction will be honoured and a dispute resolved, Taylor said.

In addition, if parties know that a court order can be enforced almost anywhere in the world, they may be incentivised to reach a settlement earlier in the dispute resolution process, he said.
The DIFC Courts are independent from, but complementary to, the UAE's Arabic-language civil law system - offering a choice that strengthens both processes while ensuring public access to world-class justice.